Whenever I’m watching the news one of the things I notice is there simply aren’t enough voices for rich elites and their children on television. I worry that I won’t hear about things from the perspective of millionaires with close ties to Wall Street (except on CNBC, Fox Business, Bloomberg TV, Fox News, CNN, etc…). [...]

In contrast to the analysis by Goldman Sachs and Moody’s Anlaytics–which both concluded the immediate cuts pushed for by House Republicans would significantly reduce economic growth–Federal Reserve Chairman Ben Bernanke claimed they would do little harm. The backing of such an important official should be a real boost to Republican efforts to push for immediate [...]

Imagine that I were a large, wealthy company, say Walker Investment Corp, that would like a government official to take actions that would result in millions of additional profits. I won’t just walk into the government official’s office with a suitcase full of hundred-dollar bills and say if you do me this favor I will [...]

In 2000, Congress approved a program called the New Market Tax Credits with the intent to provide subsidies for development in low income areas–but by gaming the system and using very out-of-date demographic data, huge corporations are getting millions in government money to build high-end hotels and condos. Bloomberg has the story, and I strongly [...]

The commentary regarding the Lincoln/Halter race continues, ranging from the sublime to the ridiculous. Glenn Greenwald: “What happened in this race also gives the lie to the insufferable excuse we’ve been hearing for the last 18 months from countless Obama defenders:  namely, if the Senate doesn’t have 60 votes to pass good legislation, it’s not [...]

Even as the oil-spill disaster plays out in the Gulf of Mexico, Americans still have a more positive view of British Petroleum than they do of Goldman Sachs, according to the new NBC/WSJ poll. While Americans see neither company in a shining light, they do see the financial firm as a worse villain. This could [...]

Bill Clinton kicks off his discussion at today’s Pete  Peterson “fiscal summit” by fawning over Peterson and complaining that the two of them had been attacked by “liberal blogs” because they’re not on board with “just spending like crazy.”  (CSPAN video starts at 2:02)   It must be hard out here for an oligarch these [...]

KAUFMAN: I personally have a hard time believing that folks as smart as you guys didn’t see the housing market was having a bubble [in 2007].  And that the idea of going short was a good decision based on prudent managers looking at a market that was clearly falling apart. Kaufman asked Viniar what Goldman [...]

Today Carl Levin asked Goldman Sach’s Daniel Sparks about his “sales pitch,” quoting from a memo written by Sparks: “They structured like mad.  They traveled the world and worked their tails off to make lemonade from some big old lemons.” Just in case anyone wondered if Goldman knew it was peddling garbage,

Senate theater over financial reform won’t be complete until Harry Reid starts banging on about “cots in the Senate” (remember that one?) But I think Alvin Felzenberg has it just about right: What we are watching being played in the Senate is a farce performed in the theater of the absurd. The plot is simple. [...]